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Chang Danny
on Dec 16, 2024

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A contract to provide tutoring services beginning next month was signed.

A) Prepaid expense
B) Accrued expense
C) Unearned revenue
D) Accrued revenue
E) None of these choices

Unearned Revenue

Income received by a company for services or products yet to be delivered or provided, often considered a liability until the service or product is delivered.

Tutoring Services

Professional educational services provided to individuals or small groups to improve their understanding and performance in specific subjects or skills.

Contract

A legally binding agreement between two or more parties defining the terms and conditions of a particular arrangement or transaction.

  • Determine and sort different classes of accounts based on business activities.
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Lizbeth GuerraDec 22, 2024
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